India expects next mobile airwave auction in January: official

(Reuters) - India expects to conduct its next mobile phone airwave auction in January, Telecommunications Secretary M.F. Farooqui said on Tuesday, adding the government has estimated 110 billion rupees ($1.76 billion) of revenue from the auction.

The telecommunications regulator earlier this month recommended a sharp cut in the auction reserve prices. The reserve prices are yet to be finalised by the government.